Jul 22, 2015 4:14 PM
Tax credit application for Concord plaza fountain denied
The Associated Press
CONCORD — A proposal to build a fountain at Concord's city plaza with $200,000 in tax credits was denied by the New Hampshire Community Development Finance Authority.
The Concord Monitor reports that the Greater Concord Chamber of Commerce's application wasn't among those selected by the authority Tuesday to receive a portion of $5 million in tax credits.
Tim Sink, president of the Concord chamber, says the fountain will not move forward without the tax credit.
The project would've cost about $270,000 to build.
The chamber promised to fund construction exclusively with private donations.
Authority spokesman Kevin Flynn says competition was extremely stiff for the tax credits.
The $10.7 million Main Street project will eventually rebuild and redesign nine downtown blocks. Several other components of the project were scrapped due to cost.